Ethereum Investor Sentiment Turns Bullish Amid Positive Funding Rates and Fed Rate Cuts

COINOTAG news, September 26, as reported by TheBlock, reveals a noticeable shift in the Ethereum derivatives market, reflecting an increasingly optimistic investor sentiment. Julio Moreno, the head of research at CryptoQuant, observed that the 30-day moving average of the funding rate has turned positive, a sign that futures traders are displaying increasing bullish sentiment. Moreno highlighted that this positive shift comes after an extended period of decline, suggesting that market participants are growing more confident. Data from Coinglass indicates that Ethereum’s open interest weighted funding rate has maintained an upward trajectory since the Federal Reserve’s interest rate cut on September 18, currently standing at 0.0089%. Analysts from QCP Capital have also remarked on the improved funding rates across major trading platforms, attributing this to the recent rate cuts. Following the Fed’s interest rate cut, Ethereum’s price surged by over 17%, significantly outperforming Bitcoin’s 10% rise during the same timeframe.